MUMBAI: With the Corona virus on the rise in the country and the country’s and the world’s economy in jeopardy, Facebook will invest Rs 2.5 crore in Mukesh Ambani’s Geo. After this investment, Facebook’s share in Geo will increase to 6.5 percent. This is the largest foreign investment in the Indian technology sector. After the deal between the two companies, Geo will be valued at Rs 4.5 lakh crore. Mark Zuckerberg has taken this step for his company’s area in digital media. It was announced from Facebook.
Commenting on the partnership with Facebook, Reliance Industries Chairman Mukesh Ambani said, “I warmly welcome Facebook as a long-term partner. The deal will help India play a leading role in the world’s digital society. Mukesh Ambani further said that the combination of thrift and nationalism will empower 3 crore grocery shopkeepers. “I hope you are all safe,” Mukesh Ambani said in a video statement. I am sharing with you an encouraging news. Our Reliance and Geo family is happily welcoming Facebook who has emerged as our long term partner. The chairman of Reliance Industries said that TJN and RJNF will work together to achieve the two goals of Prime Minister Narendra Modi. There are approximately 100 crore mobile users in India. India is also the largest business hub for Facebook. WhatsApp, a subsidiary of Facebook, also has 200 million users in India. Reliance Jio has 25 million users in the country. In October last year, Reliance announced the creation of a new subsidiary to bring each of its digital initiatives and apps under a single entity. Reliance had invested Rs 1.05 lakh crore in the new company. Geo apps like Geo TV, Geo Cinema, Geo News etc. have been brought under this new company. In addition, the structure has been made simple for potential investors. In terms of customers, Reliance Jio is the largest telecom company in the country. According to TRAI’s new figures, Reliance Jio had 30 million customers till December 2017. Vodafone-Idea was the second largest telecom company in December with 22 million subscribers. In December 2015, Bharti Airtel was the third largest company with 22 million subscribers. As per TRAI rules, state-run telecom company BSNL had 11.5 crore subscribers and MTNL had 4.5 lakh subscribers this month.